SMEs were the main drivers of economic growth between 2004 and 2006

Author (Corporate)
Series Title
Series Details No.71, 2009 (10.9.09)
Publication Date 10/09/2009
ISSN 1977-0316
EC KS-SF-09-071-EN-N
Content Type

The non-financial business economy of the EU (NACE Rev. 1.1 sections C to I and K) witnessed quite substantial growth between 2004 and 2006. Excluding ‘mining and quarrying’ (section C), value added at factor cost rose by 11.6% to reach 5.6 trillion euros. The number of persons employed rose by 4.3% and in 2006 was close to 130 million. Small and medium-sized enterprises (SMEs), which are defined as firms employing between 1 and 249 persons, are often referred to as the backbone of the European economy, providing a significant source of jobs and economic growth. They were indeed the main contributor to growth between 2004 and 2006 as this publication shows.

Source Link Link to Main Source http://ec.europa.eu/eurostat/en/web/products-statistics-in-focus/-/KS-SF-09-071
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